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Nov 7 (Reuters) – Brazil’s center-south 2023-24 season (April-March) is expected to be larger with total sugarcane crush projected at 565 million tonnes compared to 545 million tonnes expected for the current crop, consultancy Safras & Mercado said in a report on Monday.
According to the report, the prospect of continuing good soil moisture levels in most producing regions going into November and December will help crop development in the between-harvests period from end of the year to March or April.
For Brazil as a whole, including the northeast and north regions, the consultancy expects cane crush of 620.7 million tonnes in 2023-24 versus 600.3 million tonnes currently.
It expects Brazil’s total sugar production growing 8.3% next season to 39.04 million tonnes, projecting exports to climb 13% to 35 million tonnes.
Safras believes Brazilian mills will allocate a near record amount of cane to sugar production next year at 49% versus 47% this season, as the sweetener continues to give better financial returns than ethanol.
(Reporting by Marcelo Teixeira; Editing by Josie Kao)
((marcelo.teixeira@tr.com; +1 332 220 8062; Reuters Messaging: marcelo.teixeira.thomsonreuters.com@reuters.net – https://twitter.com/tx_marcelo))
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